I used ICICI Money2India service to transfer my money to India. I used Power Transfer. It was very easy to use, it took around 5 days and exchange rate was reasonable. In this service, you need to wire money to ICICI account with Bany of NewYork and they wire money from there to your bank account in India.
This is how the service works:
1) Goto http://icicibank.com/ and select money transfer under NRI section.
2) Create a money to India account. It is pretty straight forward.
3) Login in to account. Select the PowerTransfer service. You need to fill a form which asks for details like amount, bank/branch to which you want to send the money etc.
4) I like the usability. You can select the bank from drop-down. Once you select the bank, it shows the list of city and you select your city from it. Once you select the city, it shows the list of branches and you select your branch. No hassle of knowing the swift code of your branch. All you really need to know is the account number and name of benefiary.
5) Once you have filled the form, they provide with information to wire money to ICICI Bank account with Bank Of NewYork. They also provide you a reference number which you must send with the wire transfer. You print this form, take it to your bank and transfer the money. Make sure you tell your bank to include the reference number.
6) That's it. Your work is done. You can track your order online. For me it took 4 days for money to reach my account in India.
http://www.rbi.org.in/ reference rate on the day of transfer was 40.90 and I got 40.65 rate for my transfer. To me it looks good, however I am no expert in this area. If you are currency wiz and have opinion in this area, I would love to hear.
Back to ICICI service, i think it is good and would recommend it to anyone.
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ICICI online money transfer services allows you to send money from any bank in over 15 countries to any beneficiary in India. You will get cost efficient and competitive exchange rates.
http://www.sendingmoneytoindia.com
Please stay away from this service and use your local bank.Ihave sent 30k to my own account in India the money has been debited from my account but ICICI is giving me hard time.There is such thing as customer service and they keep on sending emails back n forth and no love person contacts you .Please send money like a wire transfer from your US bank .ICICI sucks I am trapped I hope noone else goes through this.
Stay away from it. Customer service sucks. If there is an issue, they dont resolve it. They just send an formality email after 3 or 4 days saying obvious steps that were already done. They dont really understand what the issue is. They dont value customers.
Hi Users,
I just wanted to warn you against ICICI Money2India Service. I have transered 25, 000$ through power transfer on 13th and 14th sep'2011 and today is 29th sep'2011 but I have never received the money in my Indian Bank account. I have no clue, when I will get it - I'm trapped!!! I tried calling customer care for alteast 10 to 15times and e-mailed nri@icici.com 8-10times, but never got a concrete answer. I have submitted my transaction forms, my bank statement which say that the money was already deducted long time back. I tried asking the customer care to connect to their BANK MANAGER but, this freaking service has NO BANK MANAGER AVAILABLE ALL TIMES!! BEWARE OF THIS TRAP!!
Their CUSTOMER SERVICE SUCKS BIG TIME!! NEVER TRANSFER YOUR MONEY USING ICICI MONEY2INDIA AGAIN!
WISH I HAD THE POWER TO SUE THEM!!
GOD BLESS PEOPLE WHO HAVE THIS ACCOUNT
This stinks! They verified my acct. via two deposits of very small amounts, and then rejected the actual transaction - saying the info. was incorrect - the account no. was wrong!!! How the hell did they deposit and verify teh correct acct. in the first place then - and they don't even have the courtsey of emailing and informing that the transaction was rejected.
DO NOT use this service.
I recently opened an account with ICICI money to India service As part of verification process of my US based bank account there were suppose to be 3 transaction. However, there was on one amount of XXX Cents debited, no credit transaction.
I called customer service, She told me to email them, I emailed no reply. I waited for 4-5 days called again, and the customer rep had no idea what I was talking about, and he did what they do best, pass it on. He told me to wait another day, and call as sometime it get delayed. I knew he was just lying, but no point talking to him, so called again, another rep, ’’ well sir, you should call in AM, when we have day time transaction going on, I will not be able to look into as its night in India now’’. What the hell he is doing at night, if he can’t do anything about it. Worst Service ever.
I am glad that their incompetency is noted from the begining. I will use some other service, and make sure that anybody I knew, stay away from ICICI. I wouldn’t have even bothered, if CITI has not stopped their service.
They can keep my XX cents!
Hey Guys, the Latest I have very BAD BAD(or I can say WORST)experience in my life with ICICI(Money2India),the only thing I can tell you is DO NOT SEND MONEY with MONEY2INDIA and let everyone know that they will give you hard time/rip you off/delay in processing/no proper communication/no customer service/..... And all...
There are plenty and reliable service out to send money.
DO NOT TRUST ICICI Bank!
Do not use this service. You will receive notice that the account that the money being trasnfered has rejected and you are at loss as teh money has been taken from your account and it is a fraud.
BEWARE - You will loose
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ICICI Power Transfer does not work well as they say , Always had to track down customer service and provide all the supporting documents that the money has been debited from our account. Besides that even when we have all the details in the email , customer service will not pay attention to the details of the email. They just start from step number 1 and exchange hell lot of emails between us to come into conclusion to pay the money.
This is second time I have this issue with ICICI Power Transfer and today really got frustrated with email from standard template email from customer service even after providing enough details to take the case into next step.
This service is complete fraud!
They want the money to reach India in abt 24 hours to guarantee the rate promised while initiating transfer. An International wire transfer takes about 3 business days. And per the instruction document if the money doesnt reach within 24 hrs...ICICI can, at its discretion do whatever with the money, either return it, process it at some different exchange rate etc.
That means..IT WILL ALWAYS act at its own discretion. This is the definition of financially frauding customers.
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